BTC

$95569.111

-1.71%

ETH

$3325.016

-1.22%

XRP

$2.246

0.07%

BNB

$658.143

-0.66%

News

Tether’s Bitdeer Investment Secured With $100 Million Shares

May 31, 2024 - Around 2 mins mins to read

Key Points:

  • Tether has purchased $100 million worth of Bitdeer stocks, with an option to acquire an additional $50 million through a warrant.
  • Bitdeer will utilize the $100 million raised for data center expansion, ASIC-based mining machine development, and general corporate purposes.
  • The stablecoin issuer reorganizes into four divisions, with Tether’s Bitdeer investment under the Power division for Bitcoin mining.
Tether, the developer behind the world’s largest stablecoin, has made a significant investment in Bitdeer, purchasing $100 million worth of the company’s stocks.
Tether's Bitdeer Investment Secured With $100 Million Shares

Tether’s Bitdeer Investments Reach Agreement

Additionally, Tether has secured an option to buy an extra $50 million in stocks. Tether’s Bitdeer investment is part of Tether’s strategic expansion into various sectors of digital assets.

Bitdeer has entered into a subscription agreement for the private placement of 18,587,360 Class A ordinary shares, which has generated $100 million in proceeds. The warrant is subject to anti-dilution provisions and is exercisable at Tether’s discretion within 12 months of the closing.

The funds raised from this transaction will be used by Bitdeer to expand its data centers and develop ASIC-based mining machines. The net proceeds are also earmarked for working capital and other general corporate purposes.

Tether Reorganizes with Focus on Bitcoin Mining

Tether’s Bitdeer investment aligns with its recent reorganization into four divisions, reflecting its broader focus on digital assets. The new divisions are Data, which will handle strategic investments in technology, including artificial intelligence; Finance, which covers the USDT stablecoin with a market cap exceeding $100 billion; Power, which focuses on Bitcoin mining investments; and Edu, dedicated to educational activities.

Tether’s Bitdeerinvestmentfalls under the Power division, demonstrating its commitment to supporting and advancing the Bitcoin mining industry.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

#ASIC

Bitcoin mining

Bitdeer

Tether

Tether's Bitdeer Investment

USDT

Author

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.
News

Tether’s Bitdeer Investment Secured With $100 Million Shares

Key Points:

  • Tether has purchased $100 million worth of Bitdeer stocks, with an option to acquire an additional $50 million through a warrant.
  • Bitdeer will utilize the $100 million raised for data center expansion, ASIC-based mining machine development, and general corporate purposes.
  • The stablecoin issuer reorganizes into four divisions, with Tether’s Bitdeer investment under the Power division for Bitcoin mining.
Tether, the developer behind the world’s largest stablecoin, has made a significant investment in Bitdeer, purchasing $100 million worth of the company’s stocks.
Tether's Bitdeer Investment Secured With $100 Million Shares

Tether’s Bitdeer Investments Reach Agreement

Additionally, Tether has secured an option to buy an extra $50 million in stocks. Tether’s Bitdeer investment is part of Tether’s strategic expansion into various sectors of digital assets.

Bitdeer has entered into a subscription agreement for the private placement of 18,587,360 Class A ordinary shares, which has generated $100 million in proceeds. The warrant is subject to anti-dilution provisions and is exercisable at Tether’s discretion within 12 months of the closing.

The funds raised from this transaction will be used by Bitdeer to expand its data centers and develop ASIC-based mining machines. The net proceeds are also earmarked for working capital and other general corporate purposes.

Tether Reorganizes with Focus on Bitcoin Mining

Tether’s Bitdeer investment aligns with its recent reorganization into four divisions, reflecting its broader focus on digital assets. The new divisions are Data, which will handle strategic investments in technology, including artificial intelligence; Finance, which covers the USDT stablecoin with a market cap exceeding $100 billion; Power, which focuses on Bitcoin mining investments; and Edu, dedicated to educational activities.

Tether’s Bitdeerinvestmentfalls under the Power division, demonstrating its commitment to supporting and advancing the Bitcoin mining industry.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.